Q: Are there any issues with the name on the deed being different than the name on the mortgage loan?
The person who has their name on the mortgage is deceased (my father in law). The person who has their name on the deed is the spouse of the person who has their name on the mortgage. They living spouse had to go to probate court for year's support to get their name on the deed. The living spouse (my mother in law) has concerns that since her name is not on the mortgage that the loan company could at some point come and take the house from her. She does not have the credit to apply for a new loan with her name on it. However, she has no issues paying the mortgage on time every month. We all assist her in making sure that all bills are paid on time. As I understand it she owns the current equity in the house. Is that right? Are her concerns something that we should all be worried about?
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